Affordability constraints are reshaping how Britons search for their next home according to new analysis from Zoopla.
While most buyers continue to look close to their existing address, the average search radius has narrowed to 3.4 miles this year, down from 4.3 miles in 2021 when the pandemic fuelled a nationwide “search for space.”
More than a quarter (26%) of buyers are now looking beyond a 10-mile radius, creating a growing segment of households willing to move further afield in pursuit of value.
The shift is most pronounced in the South East and East of England, where 35% and 39% of buyers respectively are looking outside their immediate area, typically at homes priced up to £60,000 below local averages.
VALUE AND SPACE
Popular commuter towns such as St Albans, Stevenage, Hemel Hempstead, Luton and Guildford, as well as innovation hubs like Cambridge and Oxford, all show over 40% of buyers widening their search in order to secure better value and more space.
By contrast, buyers in northern England and the Midlands are more likely to stay local, reflecting the relative affordability of housing.
In Liverpool, Bradford and Hull, more than 80% of buyers search within five miles of their current home. Across the wider regions, seven in ten prospective movers restrict their search to a five-mile radius.
AFFORDABILITY CONSTRAINTS
Richard Donnell, executive director at Zoopla, said: “Home buying decisions and search patterns are being reshaped by the affordability of housing.
“The old adage that most people move within five miles of where they live today is being challenged, especially for those wanting to live in southern England where housing costs are greatest.”
